Once again this week, I was drawn into a debate about whether to appeal to a wide range of clients or focus on a tight target market. It's a fundamental networking skill to know what you want ...
Networking skill strong, Connections forged and nurtured, Success is certain
It seems to be the single most challenging thing for the small business owner to put into practice when networking for referrals, or any form of marketing or lead generation, come to that.It usually comes down to one of three reasons:
First is fear. Fear that others will pass you over for work you could do. If you had enough of the clients you really wanted, would you care?
Second is evangelism. That everyone will benefit from the fantastic products or services you have to offer. Is what you're offering something everyone wants to buy?
Third is novelty. You like variety and dread getting bored with all clients being the same. Are any two clients really identical?
So let's look at the benefits of focusing on one particular type of client and how that can address those reasons and much more:
Make it easy to spot an opportunity for you - If you're networking and asking others to introduce you to potential clients, you need to make it easy for them to do so. The more precise the picture of one of your ideal customers and why they need your services, the easier it is for people to spot them in their busy day. By the way, it's easier for you, too!
Know who you need in your network - Identify the people who can refer you. You can identify and develop relationships with people who know many of those individuals. If you're both fishing in the same pond, but for different reasons, you can both refer to each other.
Know where to network - You can focus on attending events where either your potential clients go or the people who know your clients go. That will save you vast amounts of time and frustration.
Present the right image - You can tailor your marketing messages to the language, style, and images that resonate with your potential clients. That makes them far more likely to buy from you and gives your referrers confidence that you are the right person to introduce to their contacts.
Become known as a specialist - People seek out a specialist, especially when facing a real challenge. This means you get variety in your work and feel that you're really adding value that others can't. Your referrers feel proud to know and refer to the guru in your field (that's you, by the way). Lastly, you can charge premium prices for your services.
Your business will grow -There is an adage thatworks for most companies. The top 10% of your clients earn you 80% of your income, and the bottom 10% of your clients waste 80% of your time. If you focus on winning more clients like your top 10% your whole business will move up a gear. You'll be working with more people you want to work with, doing the things you really enjoy delivering, and dealing with fewer crises and hassles.
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